Leachate from wet phosphogypsum (PG) stack should be properly managed to mitigate the negative environmental impact of phosphoric industry. Accurate prediction of leachate amount is the prerequisite for efficient leachate management. In this study, a model using water balance analysis to predict leachate production from wet PG stack is established. The extruded water, which is related to PG deformation, is innovatively introduced as a variable in the model to account for the porewater's contribution. Model simulation suggested that at the early stage, fresh water need to be added to PG to facilitate the transfer or PG slurries; however, as the leachate accumulates in the tailings pond, a net discharge of PG is required starting at the fourth year for the studied PG stack. Model simulation also indicated that the leachate generation increased gradually over time and that the leachate generation in each month could deviate from the average leachate generation during the life cycle of the stack. The model output matches with measured values reasonably well, which confirmed the model's accuracy. Sensitivity analysis indicated that average precipitation and evaporation are the two most important factors that determine leachate generation rate. Monthly leachate generation rates vary significantly within the year, as the precipitation and evaporation vary in different seasons. The highest leachate generation rates were reached in rainy seasons and the lowest rates were reached in wintery months. This study could be used to optimize the PG leachate managements and to mitigate the PG related pollution to the environment.